Amundi cut its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 190,231 shares of the insurance provider's stock after selling 5,836 shares during the quarter. Amundi owned about 0.12% of Cincinnati Financial worth $26,958,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in Cincinnati Financial by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider's stock valued at $787,076,000 after purchasing an additional 1,218,919 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Cincinnati Financial by 583.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider's stock worth $52,531,000 after buying an additional 329,435 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Cincinnati Financial by 49.5% in the third quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider's stock worth $60,619,000 after buying an additional 147,542 shares in the last quarter. SG Americas Securities LLC grew its position in Cincinnati Financial by 3,381.8% during the fourth quarter. SG Americas Securities LLC now owns 140,768 shares of the insurance provider's stock valued at $20,228,000 after acquiring an additional 136,725 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Cincinnati Financial by 73.8% in the 4th quarter. Victory Capital Management Inc. now owns 310,079 shares of the insurance provider's stock worth $44,558,000 after purchasing an additional 131,625 shares during the period. 65.24% of the stock is currently owned by institutional investors.
Several analysts have issued reports on CINF shares. Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $180.00 to $182.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Roth Mkm upped their price target on Cincinnati Financial from $140.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $151.00.
View Our Latest Research Report on Cincinnati Financial
CINF stock traded up $3.40 during midday trading on Friday, hitting $145.39. The stock had a trading volume of 1,238,605 shares, compared to its average volume of 641,748. Cincinnati Financial Co. has a 52-week low of $109.93 and a 52-week high of $161.75. The firm has a market cap of $22.76 billion, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 8.30 and a beta of 0.66. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31. The business has a 50-day moving average of $139.30 and a two-hundred day moving average of $141.90.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. As a group, equities research analysts forecast that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a $0.87 dividend. The ex-dividend date of this dividend is Monday, March 24th. This is a boost from Cincinnati Financial's previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a yield of 2.39%. Cincinnati Financial's payout ratio is 23.97%.
Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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